1989 Chevrolet Corvette 310-594-4224, California Car, 85k Orig Miles on 2040-cars

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VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

Chevy Bolt wins 2017 Green Car of the Year

We knew that a plug-in vehicle was going to win the 2017 Green Car of the Year award this year, given that all five finalists have a way to charge up. And when Ron Cogan, the editor and publisher of Green Car Journal, announced the winner – the 2017 Chevy Bolt EV – he said that the car itself represents one of those times in the auto industry when everything is about to change. Similar to the invention of the starter motor, things are about to get different. For now, though, the fact that the Bolt EV won an award sounds like the same old thing all over again. Just this week, it was named Motor Trends Car of the Year and to the Car And Driver Top 10 list. The other four finalists for Green Car of the Year included the Toyota Prius Prime, the Chrysler Pacifica, the Kia Optima (including hybrid and plug-in hybrid models) and the BMW 330e iPerformance. Last year, the winner was the 2016 Chevy Volt. Did Green Car Journal make the right selection this year? See the award ceremony below.

It won't be long now before Nissan Leaf finally overtakes Chevy Volt

The two best-selling plug-in vehicles ever are the Chevy Volt and the Nissan Leaf. When the two vehicles launched in late 2010, the plug-in hybrid Volt quickly outpaced the all-electric Leaf and, despite lots of ups and downs since then, continues to hold on to a cumulative sales lead. This will change in 2015. Cumulatively, from November 2010 through November 2014, the Volt sold 71,867 units while the Leaf trails with 69,220. That's a difference of just 2,647. Based on current trends (with the Leaf selling around 2,500-2,700 a month and the Volt at 1,500-1,700) we expect the Leaf to take over either in January or, more likely, February when the Leaf takes over as the most popular plug-in car in America. Perhaps even March, depending on how low the numbers are for January and February, which are always slow sales months in the US. Of course, once it takes the crown, the Leaf can't expect to easily hold on for long. A new Volt is coming in the second half of 2015, likely beating a new Leaf to market. The question is, then, how well the Chevy sells with all of its new bells and whistles. Do you think the Volt will be the comeback kid once the 2016 model becomes available? Featured Gallery 2013 Nissan Leaf View 55 Photos Green Chevrolet Nissan AutoblogGreen Exclusive Electric Hybrid ev sales hybrid sales